Macdonald sells half of its hotels but keeps Aviemore properties
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Macdonald Aviemore Resort and Inverness’s Drumossie Hotel are to remain a part of the Scottish-based Macdonald Hotels group despite the sale of more than half the company’s properties.
The business, one of the largest independent hotel groups in the UK, has revealed it will sell off 27 hotels by the end of August.
However, none of its Highland properties will be affected.
In addition to the Macdonald Aviemore Resort and Drumossie, these are the Morlich Hotel, Macdonald Highlands Hotel, Macdonald Aviemore Hotel and Luxury Woodland Lodges – all in Aviemore.
The sale includes properties such as the Rusacks Hotel overlooking the 18th hole on St Andrews’ Old Course; The Randoph Hotel in Oxford; and The Compleat Angler on the banks of the Thames.
It comes after the group posted a £2.2 million loss.
The sale to a private equity and real estate investor will leave the group with 11 hotel properties in the UK and Spain, and is expected to clear its debts.
Group founder and executive chairman Donald Macdonald said: “The board carefully weighed up all the proposals and unanimously agreed that selling the majority of the hotels to a new, well-funded investor will enable them to realise their full potential, both as hotels and in terms of the significant development potential on several of the sites.
“This is excellent news for the 2200 loyal employees based at these hotels, their 190 colleagues in our central support team and also for our valued customers and suppliers.”
